Startup Guidance

Choosing a name for your new small business startup probably isn’t the first thing that you will do, but it is one of the most important things that you will do during the startup phase. Prior to the stage where you are going ahead and choosing your new trading name you will of course have established what type of business you are starting, how you are going to start it, and when. You will then have the choice of types of businesses that you can trade as. For instance, in the UK you will have the choice of being a self-employed individual, ie; a Sole Trader/Sole Proprietorship or perhaps a Limited Company (Ltd) or Partnership. In the United States however, more often than not you will become a LLC (Limited Liability Company) or perhaps an LLLP (Limited Liability Limited Partnership). With your business entity type established, the next stage is choosing a name for your business.

First things first – To save yourself a lot of heartache and potentially wasted time down the line, reading this guide is an absolute must. Let us begin..

How important is your business name?

Perhaps the very first thing a potential customer will see is your business name and instantly an impression or opinion will be made of your organisation. I happen to believe that the name of your business, in terms of short term visibility, is more important than your sales pitch, your inventory or even yourself and perhaps employees. You may have excellent customer service skills and a fantastic product but if you get your business name wrong, a customer and a potential sale can all be lost in a moment. Under most circumstances, the name of your business tells a lot about your business to a viewing customer. Remember we discussed earlier in this article how customers make instant judgements of your business based solely on its name. They do this even before they have even seen what else you have to offer them.

How do I choose a good business name?

The first thing to think about is what industry or market sector your business is operating in;

• Are you a service or product based company?
• How important is branding to your business in the industry?
• Are you ever likely to need to be able to brand your business in a specific way?
• How crucial do you think your business name is going to be for marketing purposes?
• How about expansion? Do you believe that there are other market sectors your company may diversify into? What about expanding overseas? What are the implications for that?

It’s essential that you appeal and strike the right tone to your customers with your business name. If you think for a second about the largest and most successful brands we have in our world today. The likes of McDonalds, Nike, Google, Sony and so forth, these are businesses that have developed a brand, not just a business name, and good brands practically sell themselves.

What other considerations are there?

Over the course of running your own business you are going to get a lot of practice saying your business name and seeing it associated with your own name. You may think that it’s a no brainer to choose a name for your business that you like the sound and sight of, but keep that in mind when choosing.

Something that business startups forget about is whether another organisation has the same name as you. For obvious reasons, having the same name as another business really isn’t a good idea, especially if trademarks or other rights are involved. Always check that the name you have chosen is not already in use.

Your business name needs to be memorable. Why? Because you want customers to remember your name and directly associate it when they are looking for the products or services that you tender. Keep in mind that the longer the business name, the less likely people are to remember it. You may think that something short and unique is the way forward, certainly most successful brands are like this but let’s not go too far off the chart it becomes too unrelated to the business sector you are operating within. Don’t chase a short name and sacrifice its relevance to your organisation.

As easy as it sounds – business names should be original, concise and coherent to the sector you operate in. Choosing a name for your business can be a tricky task but take time over it, it will hopefully be with you for a long time to come!

1. Having too high an expectation

When starting your own small business it is important to make honest and realistic forecasts about your business’ potential. During the startup phase of any business and even once established, it can be very easy to make poor estimations. It’s important to remember one thing however, these are estimations and unless you’re extremely good at what you do or are very lucky, estimations remain calculated guesses. There is no easy solution to this common startup mistake, you simply have to calculate and calculate again until you are ready to take the plunge. Another possible solution is to let a third party review your expectations, perhaps an accountant, solicitor or business consultant. It’s usually a good idea to have a third party view of your small business matters.

2. Poor planning

The amount of startup businesses that simply do not plan is startling. It is a common misconception that startup businesses only need a loose plan in order to get started, this is incorrect. Poor planning (or no planning at all in some cases) will more than likely result in business failure, if not immediately, within a few months. You must produce a high-quality and structured business plan for your new startup venture. A business plan not only outlines the aim, objectives and structure of your business, it will also aid securing external sources of finance such as startup loans. A business plan will help you foresee potential problem areas in your business and measure how well your business is doing on a regular basis.

3. Poor market research

A lot of small business mistakes stem from a lack of market research. The market your small business is going to operate in is your sales venue, it is your home, your marketplace for the next X-XX years, you have to treat it as the holy grail. Inaccurate or poor market research will all most certainly lead to a misunderstanding of your businesses objectives and how you are going to successfully execute them. Put the time into market research, don’t walk into business blind of your surroundings.

4. Diversifying into new markets too soon

Your new startup business is quickly becoming a success and you are looking to expand into other markets to open up new revenue streams and increase overall profits. Well, not so fast cowboy! - There may well be a temptation to diversify into other markets when you have a taste for success, but don’t forget your roots. If you move at the wrong time (normally too quickly) your primary revenue stream can be left behind. Expansion is a necessary and extremely important step for small business owners, but diversifying too quickly can make you vulnerable to the many startup business risks.

5. Losing sight of net profits

When we talk about business growth, we normally associate this with increased profitability - Well, not always. Over-trading and chasing increased sales volume is a rapid expansion tactic but it also has its associated risks, and some of them can be catastrophic for your startup business. Unless you have adequate working capital or net current assets, chasing high sales revenue before thinking about profit is a dangerous game to play - Don’t be caught out, business takes time to come to fruition!

The following is published by a guest blogger.

So you’ve finally decided to do it — you’re going to start your own small business and see where you can go with it. But the problem right now is securing reliable startup funding. You need money to buy or rent the property, purchase enough inventory for you to start off, pay the bills, and hire employees. In general, to do all this you will need some form of loan, because the first few months are the most expensive — you’re just breaking into the industry, so you make very little profit with very large expenses until you figure out the exact plan of action.

To acquire startup loans and venture funding, you need to have investors and support. Startup funding is not easy to get. Many small business owners get their first startup loan from their family or friends, and this is great because you know you can trust them. However, you want to be careful when borrowing from people who are close to you because you are mixing up your personal life and your business life, and if something goes financially wrong, then that may pour into your personal life and cause all sorts of problems and feuds. Also, they are most likely not as well-connected with as many contacts as venture firms that will give you venture funding, and they aren’t considered accredited investors. You are regulated much less if your shareholders are entirely accredited investors.

You can also pay for your startup funding by getting yourself a job and being a consultant. If you start as a consultant company, you can eventually build your way into becoming a company that sells products independently. This method is much less risky because you are still going to make money consulting; it just takes time before your company will become independent. However, this way you can avoid taking out too many startup loans, which can potentially cause problems if your business fails to make much profit; if you have a family, this method may be for you.

Another way to get venture funding is to find a business angel. What in the world is a business angel? An individual who is very wealthy is called an angel because they can provide you with secure funding for your startup business in return for an investment stake. Angels are usually well connected people and can find you clients and contacts and customers, and even other investors to help with your startup funding, if your business prospects look hopeful. Business Angels are also accredited investors, so you can avoid all the legal stuff later on by starting with these accredited investors.

Now, to get funding (or retain funding), you’re going to need an exit strategy. That is, you either need to go public, or sell the company. Why do investors look for an exit strategy? Well, since they’re investing in you, they need their money back sometime, and if you have no exit strategy, you will simply be a monetary drain to them and they won’t want to invest in you or your small business venture. Thus, be sure that you have outlined your exit strategy before applying for startup loans or venture funding.

The golden rule of pursuing your own small business idea is to firstly think long and hard about the product or service industry that you are considering going into. I don’t wish to fill you full of fear or drive many of you to second guess your startup business idea but let’s not forget that if you want to give your small business the best chance of success, you need to be in a viable arena where you can compete and make a profit. Competing isn’t the only golden rule, there are many others but perhaps one of the most important is to start a business idea that you are genuinely interested in.

Many entrepreneurs are faced with the dilemma of choosing a sector for their startup business. Some consultants would say that you should have the product/service in mind before you even consider starting a business. I would probably go along with that philosophy but in truth, that isn’t the only way to startup in business.

If you are currently in a job that you are thoroughly disinterested in – perhaps you’re selling financial services or insurance to people who really don’t give a damn, the chances are you aren’t enjoying it nor thrilled by the prospect of each day’s new beginning. The beauty of being your own boss is that you have the freedom to choose any sector you wish to start a new venture. While in the past you may have been in jobs that you aren’t interested in, perhaps you even loath each day of work, starting your own small business can flip that feeling on its head, it’s your business – you can choose the direction it takes.

The importance of choosing a product or service that you are interested in shouldn’t be underestimated. In past posts I have talked at great length about having the right personality for business, it takes a special kind of personality to be a successful businessman/women.

How do I choose a business idea that I am interested in?

Start by brainstorming

Look at your current hobbies, sports, activities, interests and beliefs. Make a list of what you have found and find the areas you are most interested in.

Develop the interests further

Take the list you have gathered from the brainstorm and research them further. Find viable product/service ideas by looking at existing businesses and analyze in-depth your take on their current operations.

Spot a business opportunity

Building on your research in the previous phase;

• Have you spotted an opportunity that a current market leader isn’t doing?
• Is there something you could do more efficiently or cheaper?
• How can you add value?

Research the business opportunity

At this stage, if you have found a startup business idea or multiple ideas that you believe could work, the time has come to research them and evaluate whether they can truly be executed. You need to find out whether the business you are currently considering is actually viable. This includes finding out whether there are already existing businesses in the marketplace and whether you can seriously compete with them if that’s the case.

Develop the chosen idea(s) further

Let’s think about how to add further value to your proposition;

• How can you do things differently?
• What will separate you from your competitors (if any)?
• What’s the scope for your idea?
• What are the potential growth areas?
• Is this a shrinking or imploding market?
• Depending on the previous, how can you ensure you really capitalise on the opportunity?

Execute the idea and start the business

Do not underestimate the steps you must take before this point! If you feel you are truly at the stage to develop your business idea into reality, get to it and give it a try. The worst thing you could do at this stage is to shy away from giving it a try, unless of course your research tells you that there really isn’t a viable business opportunity there.

Each and every one of us has interests, hobbies and so forth that we do on a regular basis. This is the best place to start when trying to establish a small business startup idea. You have to ask yourself – why aren’t more of us starting up in business when we could all develop an idea based around our interests?

The following is published by a guest blogger.

In this day and age, it’s quite a challenge to start a new small business. There are so many large companies now that many business owners can easily be run out of business by the big overbearing companies around them, and budding enterprises often never get off their feet. Take Wal-mart, for instance. Wal-mart has removed it’s competition in many cities around the United States and the rest of the world because they have, quite simply, bullied other companies out of business. Because it is a large corporation, it’s cost effective to buy in large quantities and enable them to push prices lower and suffer losses for a time until it’s competition has sailed ship. The corporation then raises its prices once the other small businesses in the town are gone and put out of business, essentially creating a monopoly market. If you are trying to start your own small business, you need to be on the lookout for these types of cases. If you’re trying to get a convenience store or something like that off the ground, beware of Wal-marts that will try to push you out of business.

The first step to starting a small business is to get a startup loan so that you can provide funding for all the things you need to do, such as paying for the property and equipment, buying inventory and hiring employees. The first few months tend to be the most risky and you will likely make very little profits while your expenses will be through the roof, since you’re just starting up and need to stock up on inventory and likely haven’t quite figured out the market yet. Thus, taking out a startup loan will help you get through these few months.

How do you qualify for a start up loan? In general, it will depend on your credit history, which will likely determine both how high your interest rate is and how much of a startup loan you’ll receive. Also, the amount of loans that you receive will depend on what kind of business you’re running and what your business plan is. If the bank sees that your business has plenty of scope and inspiration and is most likely to succeed, then it will invest plenty of startup finance into your business by giving you loans. On the other hand, if it seems like you really don’t know where your business is going or you have a lot of competition in the area where you’re starting it, the bank is probably less likely to give out a loan because it does not want to lose the money.

Thus, it’s very necessary to have a great business plan; if needed, even hire a professional to help you write and work on it. You need to be very detailed and very specific; talk about where your startup funding will be used and what percent of it will go to each aspect; discuss how your business will benefit the community. This way, you’ll be almost guaranteed to get your start up loan.

Starting your own small business is no walk in the park, especially if you are considering doing it full time. Having a part time business on the side of a full time job is especially good to bring in some extra income but developing a startup business from scratch takes a special type of personality.

Have a good look at yourself and consider asking yourself these questions:

• Are you an individual that is looking to get out of the nine to five routine of a career under an employer?
• Are you an individual that wants to start their own business and has the hunger to be his/her own boss?
• Do you have your own small business idea that you really can’t wait to have a go at trying to make a success?
• Do you have the desire to work for yourself and think you can succeed going it alone?

If the answer is Yes to any of those questions, then it looks as if you have passed the first personality test it takes to be self-employed - Let us continue.

Starting a small business will be one of the most demanding challenges you as an individual will face in your life time, that I guarantee. The pressure and work load placed on small business owners and entrepreneurs is quite often too much, hence why so many businesses fail within their first two years. A lot of people work at their most efficient when they are under pressure. Pressure drives motivation and a lot of people need that sort of challenge to feel like they are really working towards a target. Some prefer not to be pressured but quite often these types of people aren’t risk takers and generally are left in full-time employment under the command of their seniors. You need to work out which type of person you are. Can you work under pressure and are you prepared to take risks? Or would you rather somebody else relieved you of those pressures? - If the latter, my guess is you’ve found the wrong website today.

Running your own small business is a big commitment to shoulder. It also has a responsibility that you have to be 100% dedicated and committed to, combined with having a hunger for success. Let us not forget that as a self-employed individual, it is up to you to bring home the bread each night, its up to you to hit revenue and profit targets - it’s your business.

I would imagine by this stage you have a number of questions floating around your head, perhaps even a few mild concerns over whether you are truly right for business. I’m not going to lie but so you should, too many small business owners underestimate what it takes to be a successful entrepreneur which is perhaps why failure rates are so ridiculously high. These doubts you may be having are perfectly normal and this is the reason why this is such a topical discussion to help you alleviate those doubts before you make the decision to consider a small business startup.

The thought of a challenge should always motivate you, so to should the thought of your businesses success. You should be prepared and absolutely committed to putting everything you can muster into making your business last through its early months, as these are without doubt the most important for your businesses future. If this isn’t you, that’s fine, but self-employment definitely isn’t for you I’m afraid.

To your success!

Once you’ve taken the plunge, a certain succession of steps should be taken to build a solid foundation for your new startup business. Ideally, by the time you’re reading this article, you’ve already chosen what product or service you want to provide, after a careful analysis of the current market conditions. If not, consult our section on small business ideas to help you build your own profitable venture.

Once you’ve established that your small business idea is viable, the time has come to move forward with setting up the formalities. In a past post I gave you some quick fire tips on setting up your enterprise. I’ll now further discuss how to create your own small business startup checklist. A more detailed summary is below:

Pick a business name – and get it registered

This is the first step of the small business startup process that is exciting and fun! Get creative – your business name should be simple, catchy, and memorable, and it should sound like you. Remember, this is how the entire world will view your company, and you want to ensure that your name exudes your branding strategy and is easy to remember.

For example, Kodak’s name was created because the original founder read about a study that said the most memorable business names started with the letter ‘k.’ For good measure, he ended his company’s name with the letter ‘k’ as well!

Once you’ve picked the perfect name for your business, consider getting it registered right away. The costs are minimal – generally no more than a few hundred dollars – and it protects you, just in case someone else comes up with the same brilliant business title that you did.

Create a business plan

You need to clearly define what you’re trying to accomplish, and what earmarks will tell you that you’re moving toward your goals. Decide what success will mean for your business, and give yourself a deadline. Refer to this often, so that you know you’re continually staying on track. Remember, those that fail to plan, plan to fail - a business plan is of vital importance.

Establish a relationship with a bank you like

You want to keep your personal funds separate from your startup business finance. Create an account at a bank you have perhaps used before or comes recommended right off the bat. Do some research, and determine what type of small business bank account fits your needs. A good bank will want to establish a long term relationship with you as your business grows, and will work to do just that from the first. Keep in mind that your bank may be the biggest investor in your startup enterprise – and the earlier you can start relations, the better.

Develop your marketing strategy

Even the “best” product or service in the world will fail without marketing. Making consumers aware of your business is the biggest hurdle in growing your revenues. Create a solid marketing strategy long before you open the doors. Your marketing plan should include several elements: market psychology, target customer, and overcoming competitor strengths.

If your budget is limited, be creative in how you can reach your target audience. With the popularity of the Internet, there are plentiful ways to reach large amounts of customers that are very affordable. For example, you could start a blog, join a forum, or write articles in the industry – all these marketing avenues are essentially “free,” yet introduces you to the world of your target customers.

Establish your prices

Conduct market research to determine what the going rate for your product or service is, and establish your own prices accordingly. Consider what your branding strategy is. Are you positioning yourself as the “luxury” provider, and thus, will have higher prices? Or will you undercut the market rate and position your company as the “budget-friendly” company? Remember, the key is to ensure that your branding is in line with your pricing.

Network with other professionals

Attend events within your community that give you a chance to network with potentially valuable business contacts. Join the board of a charity you care about, or even host a networking event yourself in celebration of your business’s launch. Word of mouth still remains the most powerful form of advertising, exchange business cards whenever possible. You never know when an important business contact may become a powerful asset to your company.

Consult with a lawyer (if necessary)

If any of the legal aspects of establishing your small business startup seems confusing or dense, don’t hesitate to consult with a lawyer. Even if the legal fees may seem expensive, they will often offer a consultation for free, and in the long run, they can be worth every penny that you may have to pay.

Build your team

Your business is only as powerful as the talent that works within it. Recruiting talented individuals for your business creates the solid foundation that will allow it to reach its full revenues potential. However, if your startup funding is limited, you may not have an opportunity to take on employees. Nonetheless, there are many freelance independent contractors you can hire. You benefit from their specialty, but only have to pay them when you need them – making it a win-win situation for your company.

Once you’ve reached the point that you’re able and looking to hire, recruit the best talent you can find and afford - Your small business startup will thank you!

Have you ever thought of starting your own business in tandem with working full time for your employer? Do you crave the extra responsibilities, increased pay and enjoyment that self employment can bring? – Well you aren’t alone! Many of us would love to be our own boss and work on our own projects, but is it possible to launch your own small business startup venture while you are working full time?

Starting your own small business while you are in full time employment is actually a very sensible route to pursuing your dream of running your own enterprise. The good news is, it’s absolutely possible to run a small business alongside your day job, the key question you need to ask yourself however is whether you have what it takes to take your business to the next level.

One of the advantages of pursuing this route over dumping your employer and risking it all are the financial security benefits. The vast majority of us require a moderate level of sustained income and depending on your financial or personal circumstances; it really may not be a sensible idea to risk you or your families lively hood by pursuing your startup business idea without some form of financial security. Running a startup business part-time alongside full-time employment is a viable starting route, sure it’s not easy to manage your own business, your day job and your family all at once but those who are committed will make it work.

Unfortunately you really can’t afford to leave your full time job (especially if you are on a career or development path) until your startup is truly off the ground and making adequate income to support you and your family. Of course some people do, but that is an extremely risky strategy and I would be inclined to say that timing is everything and leaving your day job premature carries heavy consequences should your startup fail.

The dilemma of balancing your own time will be what you will find most difficult, especially if you have a family to consider too. There is no hiding it, it’s a real struggle to manage a startup business whilst still being in full time employment and trying to fulfil your family responsibilities.

In order to move forward, you need to consider making the “big break” – a decision to pursue your startup business on a full-time basis.

A few of the questions you should be asking yourself before doing this are:

• Have I developed my business to an established and profitable level thus far?
• Do I have enough scope to develop this to support me financially?
• Have I developed my business plan enough to provide the direction for my businesses future?
• Do I have what it takes to run my own business on a full-time basis?
• Is the time right in my life to take things forward? Are the risks too high? What are the consequences if things don’t go to plan? How can I plan to cover myself in the event of failure?

It’s not an easy choice to make, as you can see – don’t take the decision to take the plunge lightly.

A vital question that you should pose to yourself before considering a new small business startup is – Do I have what it takes to make my startup business idea work?

Now, before you answer the immediate cliche response of; “Yes, of course I have what it takes!” to that question. Perhaps first we should look over what that statement really means and how it will affect you, your family and friends for the rest of your life.

A successful startup business should contain the following personality traits. If you don’t have them, you either need to adapt yourself or seriously consider whether starting your own business is really for you!

Commitment

Pursuing your own small business idea will be without a doubt one of your biggest commitments you will make in your lifetime. Its right up there with buying your first house, getting married or starting a family. The amount of time and resources that you are going to have to commit to this enterprise are often overlooked, which is why so many startups fail to make the grade.

• You should be committed to achieving goals, both short term and long term.
• You should be 100% committed to your enterprise and nothing should get in the way of it when it needs you most.
• The balance of family life and running a business is often a hard one, but you’ll have to learn to balance both.
• You will have deadlines to meet and there will be more work for you to do than you have ever experienced before. Don’t just think that this is a one-time gig, this is a normal day’s work – get used to it.

Motivation

Self-motivation is crucial and without it, you’re heading for startup failure. Quite simply, you need to be motivated to work by yourself, for yourself and break your inner limits time and time again to better your business. Remember; this is your business, no longer are you an employee under management, you are your own boss and your business will rely on the work you put in to survive.

• You should be motivated by the work you do.
• You should enjoy what you do and be physically and mentally challenged. This will help to feed your motivation levels.
• You should be willing to put in long hours whenever your business needs it and you should be motivated enough not to second guess whether its really necessary.
• Your motivation will rely heavily on controlled discipline and professional focus – if you think you are up to the challenge so far, let us continue.

Patience

Even the most successful small businesses weren’t born overnight. Depending on your circumstances and perhaps the market you are operating in, your business will take quite a long time to develop and reach profit maturity, you need to be prepared for this.

• You should have an eye on the objectives at all times, but be patient enough to realise that success takes time to come to fruition.
• You should be willing to allow your business to take its natural shape and not try to cut corners through unethical practices, especially when the law is concerned.
• You may become frustrated from time to time, but do not allow this to affect your patience, you must remain objective at all times.

Resilience

Every business has set backs. Some are critical enough to destroy businesses, others are just minor enough to cause a headache and some extra time on your behalf to put right. Either way, you should be prepared for every eventuality and remember that those who fail to plan – plan to fail.

• You must be prepared for things to go wrong, problems and mistakes aren’t catastrophic if you have backup plans in place to put them right.
• You must be prepared to put right what has gone wrong and do it without emotional discomfort.
• You must be able to take criticism from your peers and pipe it into the good of your business.

By no means is this an exhaustive list but a lot of the startup advice we have discussed here will help you to decide whether you really have the personality a small business startup will require. You should by this stage have some idea of whether you will make the cut.

Starting your own small business without large sums of business finance behind you doesn’t necessarily mean that it won’t be a successful and profitable venture. Some of the very best startup business ideas were born on extremely simple “service based” concepts.

When you’re young and have very few assets to your name, starting your own small business without any form of business finance can be a daunting proposition. The young entrepreneurial minds among us would have probably figured out a way around that hurdle, but for those that haven’t – here are ten small business ideas that you could put into action tomorrow with little or no financial investment on your part:

1. Baby Sitting / Nanning

Alright, so you could argue that this isn’t a particularly unique idea, but how many of us have family members or friends with small children? – There is serious potential here to work several days/nights a week at different homes in and around your neighbourhood. *No Financial Investment Required.

2. Car Valet Service

Let’s face it, there’s no shortage of vehicles on the road today and each and every one of them could do with a clean from time to time. You could run this business with absolutely no financial investment on your behalf, use the owners water, soap and brushes and you’re away! *Small or Little Financial Investment Required.

3. Pool Cleaning

Perhaps not so much for the UK readers among us (sunshine is a rarity at the best of times!), you could start your own pool cleaning business if you live in an affluent neighbourhood with a good quantity of private pools. This is something you could do part-time on the weekends or between school hours. *No Financial Investment Required.

4. Personal Tutor

If you have a talent, why not make money out of it? You are now part of the new generation of technology embracing human being’s! Many of our elders aren’t so knowledgeable on the subject. You could start a tutor business and teach the general public how to use a computer? *No Financial Investment Required.

5. Knife Sharpening

Now this is a rather unique one - How about running a door-to-door service sharpening people’s kitchen knives? *Small or Little Financial Investment Required.

6. Sports Equipment Refurbishment

The majority of us play a sport, if not multiple sports. Most sports involve some form of equipment and that equipment from time to time requires repairs. How about servicing sporting equipment? *Small or Little Financial Investment Required.

7. Gardener / Lawn Cutting Service

Perhaps one of the most popular small startup businesses for young entrepreneurs is grass cutting. You could use your parent’s mower (providing you have their permission) and cut the lawns of local residents. *Small or Little Financial Investment Required.

8. Tidying / Renovation Work

Quite often people need a hand with cleaning out their closets or re-arranging their shirts and shoes. Why not lend them a hand and charge for it by the hour? *No Financial Investment Required.

9. Review Movies, Products etc.

Providing you are adequately versed in a language, you could review movies that you have seen or perhaps products that you are using. You could then submit these reviews online and get paid for it. Once again, you are using your own skills here, there is; *No Financial Investment Required.

10. Pet Sitting

Something that is becoming more and more common now is pet sitting. As mad as it sounds to some of us, people do actually employ people to look after their pets while they are away. Now I don’t just mean kennels, I mean physically sitting with the pet, feeding it and so on. Cash in and offer this service to local residents. *No Financial Investment Required.

These are just a few examples of potential startup businesses that you could develop with little or zero financial investment on your behalf. If a lack of startup business finance was an excuse for not starting your own business before you read this, it shouldn’t be now.

Get to it - Good luck!